Homework Answers
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Sales variance = Actual - Flexible = 972,000 - 960,000 = 12,000 Favourable Option B is the answer Comment if you face any issues |
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Use this flexible budget report for questions 7-11 Flexible Actual Budget Results Sales $960,000 $972,000 Variable...
Use this flexible budget report for questions 7-11 Flexible Actual Budget Results Sales $960,000 $972,000 Variable...
Use this flexible budget report for questions 7-11 Flexible Actual Budget Results Sales $960,000 $972,000 Variable costs $192,000 $240,000 contribution margin 768000 732000 fixed costs 500000 490000 Net Income 268000 242000 What is the variable cost variance and is it favorable or unfavorable? There is no variance $48000 unfavorable $48,000 favorable O neither favorable or unfavorable
Use this flexible budget report for questions 7-11 Flexible Actual Budget Results Sales $960,000 $972,000 Variable...
Use this flexible budget report for questions 7-11 Flexible Actual Budget Results Sales $960,000 $972,000 Variable costs $192,000 $240,000 contribution margin 768000 732000 fixed costs 500000 490000 Net Income 268000 242000 What is the fixed cost variance and is it favorable or unfavorable? $10000 unfavorable There is no variance $10,000 favorable O neither favorable or unfavorable
h Lewis Co. reports the following results for May. Prepare a flexible budget report showing variances...
h
Lewis Co. reports the following results for May. Prepare a flexible budget report showing variances between budgeted and actual results. Sales Variable expenses Fixed expenses (total) Units produced and sold Budgeted $ 350 per unit $ 140 per unit $126,500 1,210 Actual $510,000 $ 204,000 $123,000 1,410 List variable and fixed expenses separately. (Indicate the effect of each variance by selecting for favorable, unfavorable, and no variance) Answer is not complete. LEWIS CO. Flexible Budget Performance Report Variances Fav./Unf....
Lewis Co. reports the following results for May. Prepare a flexible budget report showing variances between budgeted an...
Lewis Co. reports the following results for May. Prepare a flexible budget report showing variances between budgeted and actual results. Sales Variable expenses Fixed expenses (total) Units produced and sold Budgeted $ 300 per unit $ 120 per unit $125,000 1,200 Actual $435,000 $172,000 $122,000 1,400 List variable and fixed expenses separately. (Indicate the effect of each variance by selecting for favorable, unfavorable, and no variance) LEWIS CO. Flexible Budget Performance Report For Month Ended May 31 Flexible Budget Actual...
Performance Report, June 2017 Actual Static Results Budget Units (pounds) 390,000 380,000...
Performance Report, June 2017 Actual Static Results Budget Units (pounds) 390,000 380,000 Revenues $2,203,500 $2,166,000 Variable manufacturing costs 1,423,500 1,368,000 Contribution margin $780,000 $798,000 SteveSteve AdlerAdler, the business manager for ice-cream products, is pleased that more pounds of ice cream were sold than budgeted and that revenues were up.Unfortunately, variable manufacturing costs went up, too. The bottom line is that contribution margin declined by $ 18 comma 000$18,000, which is less thanless than 11% of the budgeted revenues of $...
Complete the following Flexible Budget Performance Report. Interpret your results. Remember on the variances to put...
Complete the following Flexible Budget Performance Report. Interpret your results. Remember on the variances to put Favorable (F) or Unfavorable (U) Flexible i e Flexible Volume Master Actual Budget B. Budget Variance Budget Variance Sales 57,500 57,500 53,000 Volume Sales Revenue $206,500 ($3.50 per unit) Less: Variable Expenses $83,200 ($1.40 per unit) Contribution $123,300 Margin Less: Fixed $65,500 $64,000 Expenses Operating $57,800 Income
FLEXIBLE BUDGET PERFORMANCE REPORT Top managers of Hannah Industries predicted 2018 sales of 14,400 units of...
FLEXIBLE BUDGET PERFORMANCE REPORT Top managers of Hannah Industries predicted 2018 sales of 14,400 units of its product at a unit price of $9.00. Actual sales for the year were 14,000 units at $11.50 each. Variable costs were budgeted at $2.10 per unit, and actual variable costs were $2.20 per unit. Actual fixed costs of $42,000 exceeded budgeted foed costs by $5,500. Prepare Hannah's flexible budget performance report. What variance contributed most to the year's favorable results? What caused this...
Exercise 21-6 Preparing a flexible budget report LO P1 Lewis Co. reports the following results for...
Exercise 21-6 Preparing a flexible budget report LO P1 Lewis Co. reports the following results for May. Prepare a flexible budget report showing variances between budgeted and actual results. Sales Variable expenses Fixed expenses (total) Units produced and sold Budgeted $ 550 per unit $ 220 per unit $132,500 1,250 Actual $815,000 $332,000 $127,000 1,450 List variable and fixed expenses separately. (Indicate the effect of each variance by selecting for favorable, unfavorable, and no variance) LEWIS CO. Flexible Budget Performance...
the flexible budget variance for operation income is Favorable 13) /The following data are for Point...
the flexible budget variance for operation income is
Favorable 13) /The following data are for Point Corporation: A Flexible Budget for Actual Sales Activity 18,000 $360,000 216,000 $144,000 Static Budget Actual Units 18,000 $360,000 16,000 $320,000 Sales Variable costs 234,000 $126,000 76,000 $50,000 192,000 $128,000 Contribution margin Fixed costs 80,000 $64,000 80,000 $48,000 Operating income 2,000 The flexible budget variance for operating income is A) $14,000 Favorable C) $2,000 Favorable B) $14,000 Unfavorable D) $2,000 Unfavorable
ames Manufacturing had the following information available for July: Actual Results Flexible Budget Variance Flexible Budget...
ames Manufacturing had the following information available for July: Actual Results Flexible Budget Variance Flexible Budget Sales Activity Variance Master Budget Units 12,000 ? 3,000 U ? Sales revenue ? $ 16,800 F ? ? ? Less: Variable manufacturing costs $ 88,500 $ 92,000 ? $ 111,000 Variable marketing and administrative ? $ 5,500 U ? $ 6,200 F $ 33,000 Contribution margin $ 52,000 ? ? $ 6,300 U ? What was James’s flexible budget contribution margin for July?...
Use this flexible budget report for questions 7-11 Flexible Actual Budget Results Sales $960,000 $972,000 Variable costs $192,000 $240,000 contribution margin 768000 732000 fixed costs 500000 490000 Net Income 268000 242000 What is the variable cost variance and is it favorable or unfavorable? There is no variance $48000 unfavorable $48,000 favorable O neither favorable or unfavorable
Use this flexible budget report for questions 7-11 Flexible Actual Budget Results Sales $960,000 $972,000 Variable costs $192,000 $240,000 contribution margin 768000 732000 fixed costs 500000 490000 Net Income 268000 242000 What is the fixed cost variance and is it favorable or unfavorable? $10000 unfavorable There is no variance $10,000 favorable O neither favorable or unfavorable
h
Lewis Co. reports the following results for May. Prepare a flexible budget report showing variances between budgeted and actual results. Sales Variable expenses Fixed expenses (total) Units produced and sold Budgeted $ 350 per unit $ 140 per unit $126,500 1,210 Actual $510,000 $ 204,000 $123,000 1,410 List variable and fixed expenses separately. (Indicate the effect of each variance by selecting for favorable, unfavorable, and no variance) Answer is not complete. LEWIS CO. Flexible Budget Performance Report Variances Fav./Unf....
Lewis Co. reports the following results for May. Prepare a flexible budget report showing variances between budgeted and actual results. Sales Variable expenses Fixed expenses (total) Units produced and sold Budgeted $ 300 per unit $ 120 per unit $125,000 1,200 Actual $435,000 $172,000 $122,000 1,400 List variable and fixed expenses separately. (Indicate the effect of each variance by selecting for favorable, unfavorable, and no variance) LEWIS CO. Flexible Budget Performance Report For Month Ended May 31 Flexible Budget Actual...
Complete the following Flexible Budget Performance Report. Interpret your results. Remember on the variances to put Favorable (F) or Unfavorable (U) Flexible i e Flexible Volume Master Actual Budget B. Budget Variance Budget Variance Sales 57,500 57,500 53,000 Volume Sales Revenue $206,500 ($3.50 per unit) Less: Variable Expenses $83,200 ($1.40 per unit) Contribution $123,300 Margin Less: Fixed $65,500 $64,000 Expenses Operating $57,800 Income
FLEXIBLE BUDGET PERFORMANCE REPORT Top managers of Hannah Industries predicted 2018 sales of 14,400 units of its product at a unit price of $9.00. Actual sales for the year were 14,000 units at $11.50 each. Variable costs were budgeted at $2.10 per unit, and actual variable costs were $2.20 per unit. Actual fixed costs of $42,000 exceeded budgeted foed costs by $5,500. Prepare Hannah's flexible budget performance report. What variance contributed most to the year's favorable results? What caused this...
Exercise 21-6 Preparing a flexible budget report LO P1 Lewis Co. reports the following results for May. Prepare a flexible budget report showing variances between budgeted and actual results. Sales Variable expenses Fixed expenses (total) Units produced and sold Budgeted $ 550 per unit $ 220 per unit $132,500 1,250 Actual $815,000 $332,000 $127,000 1,450 List variable and fixed expenses separately. (Indicate the effect of each variance by selecting for favorable, unfavorable, and no variance) LEWIS CO. Flexible Budget Performance...
the flexible budget variance for operation income is
Favorable 13) /The following data are for Point Corporation: A Flexible Budget for Actual Sales Activity 18,000 $360,000 216,000 $144,000 Static Budget Actual Units 18,000 $360,000 16,000 $320,000 Sales Variable costs 234,000 $126,000 76,000 $50,000 192,000 $128,000 Contribution margin Fixed costs 80,000 $64,000 80,000 $48,000 Operating income 2,000 The flexible budget variance for operating income is A) $14,000 Favorable C) $2,000 Favorable B) $14,000 Unfavorable D) $2,000 Unfavorable
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